Copyright © 2012-20 Vibazone Private Limited All Rights Reserved IIC-Innovation Ambassador Training Series initiative of MHRD's Innovation cell Pre-incubation and Incubation Management" Privileged and Confidential For Internal Discussion Only 1
Copyright © 2012-20 Vibazone Private Limited All Rights Reserved
IIC-Innovation Ambassador Training Series initiative of MHRD's Innovation cell
Pre-incubation and Incubation Management"
Privileged and Confidential
For Internal Discussion Only
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One Minutes Exercise
• What are your personal goals for your participation in this program. (At the end of this session, what will we have accomplished through this shared learning experience – if you are going to consider this program a success?)
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Planning an Incubator
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Planning an Incubator
THEREFORE - the incubator development team should apply a systematic approach to planning an incubator exploring step by step:
the feasibility study planning the incubator’s business plan the incubator policies
Effective planning is a key factor in ensuring the future success of such an initiative and the return on investment for the principle stakeholders.
Establishing an incubator is a significant, long term investment for the community at stake.
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Key componentsin planning an
incubator
• Pre-feasibility study – putting together the right team to plan an incubator
• Understanding the Market Need (including Stakeholder Analysis)
• How to assess when an incubator is not the appropriate solution?
Component 1: Feasibility Study Planning
• Vision & Mission Statements and Strategies for an incubator
• Designing a Sustainable Business Model
• Overview of Infrastructure considerations.
Component 2: Business Planning
• Entry and selection criteria
• Incubator Programmes: Incubator Contracts
• Exit/Graduation policies
• Overview of Incubator Governance and Management
Component 3: Incubator Policies
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Initial tasks of the development team
Reaching a consensus on the basic concept and objectives of an incubator;
Setting a timeframe and tasks for the preliminary work to be carried out to assess the feasibility of creating an incubator;
Learning more about business incubation as a concept and in application;
Securing resources for feasibility study planning;
Implementation of feasibility study;
Decision on results and planning of next phase of development
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Learning & Capacity Building
Online training resources
Incubator Study Tours
Incubator Network & events
Keeping up to date with emerging trends
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Infrastructure & Facilities
INFRASTRUCTURE, CAPACITY, FACILITIES, SERVICES AND
FINANCIALS
RESOURCES, FUNDS, SECTOR, LOCATION AND OUTCOME
BUILDINGS NEED TO BE SUITABLE FOR FLEXIBLE
CONFIGURATION, IN A LOCATION THAT IS GOOD FOR BUSINESS (FOR THE CLIENTS), FREE AND
DEBT MINIMIZED.
FINANCIAL FEASIBILITY - BOTH SHORT AND LONG TERM,
INCLUDING ESTABLISHMENT COSTS
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Design your Incubator
Decide on your objective focus area/s Design the space
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Space & Design
Designing the incubator to suit the requirements of the start-ups.
Leveraging design to create purposeful use of space
Collaborative, creative and idea-generating areas, and private spaces for individual to carry out confidential meetings and discussions.
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Pre-Incubation Vs Incubation Vs Accelerator
Pre Incubation program is carried to ensure good quality of teams are present and to enable to
build the ecosystem
Incubation is to reduce the chances of failure of early stage start-up and provide necessary support and access to resources that results in the financial
and economic viability of the start-up.
As opposed to incubation which provide start-ups with support on a protracted basis, acceleration programs run for a concentrated period of time,
usually between three and six months. The curriculum typically involves mentorship,
networking, and customer building, and often some venture capital investment
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Particulars Society Section 8 Trust
Formation and Ownership Minimum 7 persons shouldsubscribe their names toMemorandum of Association(MoA), file the same andcertified copies of the samewith the Registrar of Societyalong with the fees
Minimum 2 persons shouldsubscribe their name to theMoA and apply to the RegionalDirector for registration underSection 8 of The CompaniesAct, 2013
The Act remains silent on thenumber of trustees required.Hence, a single trustee can alsogovern the Trust. HoweverIncome Tax Authorities ask foratleast two trustees to governthe trust
Timeline and formation 1 Month 1 - 3 Months 10 - 15 days
Formation cost INR 3,000 - 10,000 INR 30,000 - 50,000 INR 10,000 - 15,000
Liability Limited to their subscriptionamount
Limited to their subscriptionamount
Limited liability to make goodthe loss which the trust propertyhas sustained
Alteration of objects Objects can be modified with theapproval of 3/5th of the members
Objects can be modified anytimesubject to approval of CentralGovt.
Objects can be modified subjectto approval of the Charity Commissioner.
Management Control Governing Council as elected bythe society members
Directors are appointed by theshareholders
Trustees / Board of Trustees areappointed
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FUNDING AN INCUBATOR
• Host will need to provide initial funding
• Government Funding (NSTEDB, AIM , BIRAC, MEITY, MSME, NRDC, DST)
• CSR• Alumni and Industry
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Handle Financials of the incubator
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Establish the business incubator; Start its activities; Operate efficiently and in a manner that contributes to
achieving the incubator’s overall goals; and
Ultimately, reach sustainability.
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PRE-OPERATING EXPENDITURES;
PHYSICAL FACILITIES; EQUIPMENT; HUMAN RESOURCES;
GENERAL EXPENDITURES; AND
RESERVES.
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• An Incubator manager
• A Training Executive;
• A Technology Manager;
• A Financial Management Executive; and
• An Accommodation and Common Logistics Services Manager.
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Incubator Should Provide
• Besides physical infrastructure
• Mentoring both technology and business
• Legal support for IP and Regulatory
• Market Research & Business Services
• HR
• Financial Management
• Industrial Connects
• Access to funding
• Scale-up
• Networking
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“Elements of An Effective Mentoring Program and Key
Success Factors”
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Defining Roles
Counseling primarily is for correcting and
improving
Managing primarily is for applying and
executing
Coaching is primarily is for inspiring and
motivating
Mentoring is primarily is for instructing and
guiding
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How Each Role Works?
Coaching Mentoring Managing Counseling
On
e st
ep CoacheeLe
vel s
tep Mentee
On
e St
ep Mangee
Two
Ste
p Counselee
Entrepreneur
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What is Mentoring?
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Mentor is the Latin word meaning “to endure” or “to sustain a relationship to share experience”
Mentoring is a way of offering support and advice to someone as a person and may touch on any aspect of their life.
A mentor may provide coaching or training if required.
Coaching is specific and tightly focused
Training is work related
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Elements of Mentoring
Recruitment
Screening
Training
Matching
Monitoring and Support
Closure
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Types of Mentoring
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Two Types
• Natural
• Friends, coaching, teaching and counseling
• Planned
• Structured programs where mentors and mentees are matched
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Why Are Mentoring Programs Becoming Popular?
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Mentoring programs help startup go to market faster
Increase survival rate of entrepreneurs
Accelerate learning for entrepreneurs
Build confidence to the entrepreneurs
A great sounding board for entrepreneurs
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How Do Mentoring Programs Work?
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People are matched informally or formally via
interviews, personal profiles, common interests
or Networking Events
Mentors are usually from a varied background
Mentors are usually sought informally or formally
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Why Are Mentoring Programs Needed?
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•Expert or/and role model
Mentors have two roles
Help learn new skills and knowledge
Increase achievement rate
Increase self esteem and confidences
It is a one to one not one to many
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What Are Mentoring Programs For?
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Educational or academic
Career Personal
DevelopmentVenture
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Mentor – Mentee Relationship
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OPEN OR CLOSED PUBLIC OR PRIVATE FORMAL OR INFORMAL
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How Does a Mentor Help?
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HELP UNDERSTAND SOCIAL BEHAVIORS
HELP UNDERSTAND HOW AN
ORGANIZATION WORKS
PROMOTE LEARNING EXPLORE DIFFERENT AND CONFLICTING
IDEAS
UNDERSTAND OFFICE POLITICS
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Mentor’s Approach
The mentor should look at the company as a whole and not just the Technopreneur's need but must balance otherwise the technopreneur will lose interest
For Technopreneurs the company is more than a job it is often their life or a huge portion of it
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Mentor’s Approach
Mentor must learn the business in terms of operations, financials
and marketing
Mentor must have a good assessment of the mentee’s
relationship with the company
Mentor should know about relations and investors involved
in the business
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Mentor’s Approach
Mentors should be only people with complex experience in wide areas
The question is always whether the technopreneur will be able to lead the company to the next stage and this is where the mentor plays a major role
Mentors must identify external forces like culture, goals and business processes
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Networking
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Conduct Conduct events such as Hackathons, workshops, seminars and expert talks to provide a platform to bring together start-up enthusiasts and create awareness
Reach out
Reach out to renowned institutions and other organizations for expert talks and seminars
Decide Decide for logistics, partnerships and meals.
Form Form partnerships with investors, industry experts, institutions and local government.
Identify Identify resource personnel to coordinate and follow up on partnerships
Connect Connect with technical officer, business & legal professionals, marketing and advertising companies
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Thank You For Your Participation
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